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Morning round-up, Wednesday August 28


* Dairy giant, Fonterra said on Tuesday that the company’s monthly production in Australia continued to decline, while EU and US production remained flat.


The company made the announcement as part of its Global Dairy Update report for August.


It added that monthly imports into the Middle East and Africa continued to show large declines, while imports grew in China, Latin America and Asia.



* Official data from the European Commission showed that the EU’s soft wheat exports so far for the 2019-20 season, July 1 to August 25, reached 2.81m tonnes.


This is up 6% compared to the same period last year.


Barley exports reached 1.05m tonnes, down 10% from the year before.


Maize imports for the period stood at 3.16m tonnes, up 77% from the 1.78m tonnes brought in during the same period in 2018.




* Pork prices in China have jumped 16% in the last 10 days according to INTL FCStone.


The financial services firm said that a pork shortage, driven by African swine fever, was behind the dramatic price increases.


It added that while the Chinese government had measures in place to increase pork production, these won’t have any effect on short-term shortages.


Chinese pork prices are currently at 31.77 yuan ($4.43) per kilogramme.



* Cocoa prices in Cameroon’s top growing Centre region dropped this week due to an increase in supplies.


Farmers and traders told Dow Jones that a kilogramme of cocoa beans sold for 1,010 Central African francs ($1.71), down 4.71% from the week before.


The cocoa supply in the Centre region has risen due to farmers replacing traditional trees with hybrids that produce more cocoa all-year round.


Good growing weather is also contributing to higher yields this year.



* Russian agribusiness, Rusagro said on Tuesday that it has officially kicked off its sugar beet processing season.


It also announced the opening of its first sugar plant in the country’s Tambov Region.


The company expects its maximum sugar beet processing capacity for the 2019-20 season to be 54,000 tonnes.



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